CEO and Co-founder of TikTok’s parent company ByteDance, Zhang Yiming, has announced that he will be stepping down from his role in the company and will be accepting another position later this year.
This news was recently announced on the company website in which Yiming reveals that he believes he lacks the necessary skills to lead the company. He will be succeeded by fellow co-founder Rubo Liang.
Yiming’s message on the website reads,
The truth is, I lack some of the skills that make an ideal manager. I’m more interested in analysing organizational and market principles and leveraging these theories to further reduce management work, rather than actually managing people. Similarly, I’m not very social, preferring solitary activities like being online, reading, listening to music, and contemplating what may be possible.
According to him, Liang has been “an invaluable partner” and has had a firsthand role in the development of the firm’s technology as well as hiring and managing employees. Hence, he will prove to be a great leader for ByteDance. Until now, Liang has been heading the company’s Human Resources department.
Since its launch almost a decade ago, this move will be the biggest structural change for the company. Hence, the change will take place over the next six months to ensure a smooth transition.